Swedish government pension fund blacklists Sahara importers

30 September 2013

Photo: Incitec Pivot fertilizer plant in Australia.

The Swedish government pension funds today announced in a press release that it had decided to exclude phosphate importers PotashCorp and Incitec Pivot.
The fund states in the release that engagement with the two companies did not lead to changed practice despite several years of effort, and that the fund’s ethical council “has therefore chosen to terminate the dialogue and issued a recommendation to each fund to exclude the companies’ shares from their investment portfolios. All four funds have elected to follow the recommendation”.